Pattern & Market Structure
The chart shows an uptrend with a bullish flag pattern forming, which typically signals continuation of the uptrend.
A breakout from the flag pattern is expected, leading to further upside movement.
Entry & Confirmation
Entry: A breakout above 0.00006767 (previous resistance) confirms bullish momentum.
Confirmation: A 4H candle closing above this level with strong volume would provide a good buy signal.
Target Levels
First Take Profit (TP1): 0.00007399 (Resistance Zone)
Second Take Profit (TP2): 0.00007411 (Major Resistance)
Stop Loss (SL)
Stop Loss: 0.00006617 (Below the previous support zone)
Risk-to-Reward Ratio (RRR)
Based on the setup, the risk-to-reward ratio appears favorable, with a potential 3:1 gain if the trade plays out as expected.
The chart shows an uptrend with a bullish flag pattern forming, which typically signals continuation of the uptrend.
A breakout from the flag pattern is expected, leading to further upside movement.
Entry & Confirmation
Entry: A breakout above 0.00006767 (previous resistance) confirms bullish momentum.
Confirmation: A 4H candle closing above this level with strong volume would provide a good buy signal.
Target Levels
First Take Profit (TP1): 0.00007399 (Resistance Zone)
Second Take Profit (TP2): 0.00007411 (Major Resistance)
Stop Loss (SL)
Stop Loss: 0.00006617 (Below the previous support zone)
Risk-to-Reward Ratio (RRR)
Based on the setup, the risk-to-reward ratio appears favorable, with a potential 3:1 gain if the trade plays out as expected.
Note
Stops at Break Even NowTrade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.